Sun-Rise Development

Finance Fund Capital Corporation’s COVID-19 Recovery Loan
Program Provides Relief for Columbus Construction Company
During Pandemic

The COVID-19 pandemic has caused an unprecedented economic
and health crisis not only for individuals, but also for small businesses
across Ohio. With support from Wells Fargo, Finance Fund Capital
Corporation (FCAP) created a COVID-19 Recovery Loan program
to provide emergency financing for several Ohio entrepreneurs
impacted by the pandemic. The COVID-19 Recovery Loans, which
consist of low interest rates and other flexible terms, were funded
quickly to help small businesses remain open and survive the crisis.

Sun-Rise Development & Associates (SRD), a Black-owned
construction company in Columbus, was one recipient of these loans.
COVID-19 caused a loss in revenue for SRD as the company was
forced by pandemic-related restrictions on bandwidth to turn down
school and other construction projects in the spring of 2020.
FCAP loaned SRD $20,000, which has provided SRD with enough
working capital to cashflow six new construction projects and work
towards regrowing at a manageable rate.

“FCAP’s Recovery Loan program came at the perfect time. My
business had been suffering due to COVID-19 restrictions, costs,
and delays, and this loan provided the bridge I needed to start new
projects after months of interruptions,” said Alton Brooks II, Owner of
SRD.

In the area surrounding SRD, much of the community experiences
financial struggles. The poverty rate is 26.4% and COVID-19 caused
unemployment levels in the area to spike throughout 2020.

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